Construction of the 19-story, 1,092-bedroom residence will
start this summer, the London-based company said in a statement
today. Balfour Beatty has already worked on four real estate
projects in the U.K. capital totaling 100 million pounds with
the client, Urbanest.

“The dynamic student accommodation market is a key growth
area for Balfour Beatty around the world,” Chief Executive
Officer Andrew McNaughton said in the statement.

Balfour Beatty said July 11 that orders are rising in the
U.S. and that it expects to recoup first-half losses in the U.K.
construction business in the second half.

The new student housing project, located on Westminster
Bridge Road, will employ as many as 500 people and is forecast
to open for the 2015 academic year.